Myopia Control Lenses Market, By Product Type, By Lens Type, By Age Group, By Distribution Channel, By Geography

Description

Global myopia control lenses market size is estimated to be valued at US$ 1.48 billion in 2023 and is expected to reach US$ 3.63 billion by 2030, by exhibiting a compound annual growth rate (CAGR) of 13.7% from 2023 to 2030.

Report Coverage		Report Details
Base Year:	2022	Market Size in 2023:	US$ 1.48 Bn
Historical Data for:	2018 to 2021	Forecast Period:	2023 - 2030
Forecast Period 2023 to 2030 CAGR:	13.70%	2030 Value Projection:	US$ 3.63 Bn

Figure 1. Global Myopia Control Lenses Market Share (%), By Region, 2023

Nearsightedness is a major problem among children and young adults as it can lead to real eye problems later in life, including serious retinal diseases and vision loss. Studies have shown that myopia can progress to a more dangerous level by the time a child is a teen or young adult. For instance, in March 2021, a study published by British Journal of Ophthalmology concluded that myopia progression among children aged 7-9 years (33.1%) and 10-12 years (29.4%) was higher as compared to other groups (at most 22.1%). Even amounts of nearsightedness -4.00 units or more, increases the risk of myopia progressing into a more serious form by the time the child reaches teen age, so it is important to treat myopia early to prevent it from getting worse.

Various treatments are available to control myopia, among which the latest myopia control method involves a special contact lens that is designed to simultaneously correct myopia and prevent myopia progression. It works by using a dual-focus approach whereby the central area of the lens contains myopia correction and alternating rings surround this region, with each ring being configured to provide either myopia control or near addition.

Market Dynamics

The major driving factor that is responsible for boosting the myopia control lenses market growth is the ever-increasing incidence of myopia, mostly among the children and the growing adults. With its rise, there is increase in demand for solutions to control its spread which ultimately requires the adoption of myopia control lenses as a preventative measure to address the problem and lower the possible hazards which is motivated by the increased awareness of and concern for eye health. In August 2023, according to an article published by Modern Optometry, the myopia's global incidence is increasing, rising from 27% in 2010 to 33% in 2020. It is anticipated that 52% of the global population will be myopic by 2050, with 10% of those people having extreme myopia.

Also, the market for myopia control lenses has grown significantly as a result of the continuous progress in lens technology. Manufacturers are creating specialty lenses with cutting-edge materials and designs to effectively stop the growth of myopia. The growing number of clinical studies and scientific evidence proves the effectiveness of myopia control lenses which had a significant impact on market expansion. Strong proof for the efficiency of myopia control lenses has been presented by numerous studies, which has enhanced their acceptance and endorsement by eyecare specialists. For instance, on April 27, 2023, EssilorLuxottica, a manufacturer of high-quality vision care products, revealed the four-year clinical study findings of its myopia control innovation Essilor Stellest lens for the first time at the 2023 ARVO annual meeting in New Orleans,U.S.. The findings reveal that Essilor Stellest lenses continue to be effective in decreasing myopia progression and axial eye elongation in children in their fourth year.

However, the limited cognizance about controlling myopia amongst the population and the high cost of myopia lenses being high (for ex: orthokeratology lenses), is expected to hinder the market growth of the global myopia control lenses market over the fasted period.

Key features of the study:

This report provides in-depth analysis of the global myopia control lenses market, and provides market size (US$ Bn) and compound annual growth rate (CAGR %) for the forecast period (2023-2030), considering 2022 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global myopia control lenses market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include Essilor International, Johnson & Johnson Vision, CooperVision, Hoya Corporation, Zeiss Group, Bausch + Lomb, Menicon Co., Ltd., SEED Co., Ltd., Alcon (Novartis), Visioneering Technologies, Inc., Paragon Vision Sciences, Euclid Systems Corporation, Art Optical Contact Lens, Inc., SynergEyes, Inc., Nevakar Inc.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
Global myopia control lenses market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global myopia control lenses market

Detailed Segmentation:

By Product Type:
- Spectacle Lens
- Contact Lens
By Lens Type:
- Multifocal LensesOrthokeratology Lenses
- Dual-focus Lenses
- Peripheral Defocus Lenses
By Age Group:
- Children
- Adults
By Distribution Channel:
- Optometry Clinics
- Optical Retail Stores
- Online Retail
By Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
By Company:
- Johnson & Johnson Vision
- CooperVision
- Hoya Corporation
- Zeiss Group
- Bausch + Lomb
- Menicon Co., Ltd.
- SEED Co., Ltd.
- Alcon (Novartis)
- Visioneering Technologies, Inc.
- Paragon Vision Sciences
- Euclid Systems Corporation
- Art Optical Contact Lens, Inc.
- SynergEyes, Inc.
- Nevakar Inc.

Product Code: CMI6034

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Product Type
- Market Snippet, By Lens Type
- Market Snippet, By Age Group
- Market Snippet, By Distribution Channel
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
Rising prevalence of myopia
Growing awareness and concern for eye health
Advancements in lens technology
Scientific research and evidence
- Restraints
Limited awareness and education
Affordability and accessibility
Compliance and adaptation challenges
- Opportunities
Increasing demand for pediatric myopia management
Expansion in emerging markets
Collaboration with eyecare professionals
Key Highlights
Regulatory Scenario
Recent Trends
Product Launches/Approvals
PEST Analysis
PORTER's Analysis
Mergers, Acquisitions and Collaborations

4. Global Myopia Control Lenses Market - Impact of Coronavirus (COVID-19) Pandemic

COVID-19 Epidemiology
Supply Side and Demand Side Analysis
Economic Impact

5. Global Myopia Control Lenses Market, By Product Type, 2018-2030, (US$ Bn)

Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2019 - 2030
- Segment Trends
Contact Lens
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Bn)
Spectacle Lens
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Bn)

6. Global Myopia Control Lenses Market, By Lens Type, 2018-2030, (US$ Bn)

Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2019 - 2030
- Segment Trends
Multifocal Lenses
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Bn)
Orthokeratology Lenses
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Bn)
Dual-focus Lenses
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Bn)
Peripheral Defocus Lenses
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Bn)

7. Global Myopia Control Lenses Market, By Age Group, 2018-2030, (US$ Bn)

Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2019 - 2030
- Segment Trends
Children
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Bn)
Adults
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 20218-2030,(US$ Bn)

8. Global Myopia Control Lenses Market , By Distribution Channel, 2018-2030, (US$ Bn)

Introduction
- Market Share Analysis, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, 2019 - 2030
- Segment Trends
Optometry Clinics
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Bn)
Optical Retail Stores
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Bn)
Online Retail
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, 2018-2030,(US$ Bn)

9. Global Myopia Control Lenses Market, By Region, 2018-2030, (US$ Bn)

Introduction
- Market Share Analysis, By Country, 2023 and 2030 (%)
- Y-o-Y Growth Analysis, For Country 2019 -2030
- Country Trends
North America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Lens Type, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Age Group, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2018-2030,(US$ Bn)
U.S.
Canada
Europe
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Lens Type, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Age Group, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2018-2030,(US$ Bn)
Germany
U.K
Spain
France
Italy
Russia
Rest of Europe
Asia Pacific
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Lens Type, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Age Group, 20183-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2018-2030,(US$ Bn)
China
India
Japan
Australia
South Korea
ASEAN
Rest of Asia Pacific
Latin America
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Lens Type, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Age Group, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country, 2018-2030,(US$ Bn)
Brazil
Argentina
Mexico
Rest of Latin America
Middle East
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Lens Type, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Age Group, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country/Sub-region, 2018-2030,(US$ Bn)
GCC Countries
Israel
Rest of Middle East
Africa
- Introduction
- Market Size and Forecast, and Y-o-Y Growth, By Product Type, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Lens Type, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Age Group, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Distribution Channel, 2018-2030,(US$ Bn)
- Market Size and Forecast, and Y-o-Y Growth, By Country/Sub-region, 2018-2030,(US$ Bn)
South Africa
North Africa
Central Africa

10. Competitive Landscape

Company Profiles
- Essilor International
Company Highlights
Product Portfolio
Key Developments
Financial Performance
Strategies
- Johnson & Johnson Vision
- CooperVision
- Hoya Corporation
- Zeiss Group
- Bausch + Lomb
- Menicon Co., Ltd.
- SEED Co., Ltd.
- Alcon (Novartis)
- Visioneering Technologies, Inc.
- Paragon Vision Sciences
- Euclid Systems Corporation
- Art Optical Contact Lens, Inc.
- SynergEyes, Inc.
- Nevakar Inc.
- Analysts' Views

11. Section

References
Research Methodology
About us